ING provides update on 2020 Annual General Meeting
April 10 2020 - 1:45PM
ING provides update on 2020 Annual General Meeting
ING provides update on 2020 Annual General
Meeting
In the context of the coronavirus pandemic, ING today provides
an update on the 2020 Annual General Meeting. ING confirms that it
will hold the 2020 AGM on 28 April 2020. In order to mitigate
health risks for all participants and to comply with Dutch
government directives, a number of aspects of the meeting will be
changed from what was earlier indicated.
In light of current government guidance, the location of the AGM
will be changed to ING’s corporate office Cedar, Bijlmerdreef 106
in Amsterdam, the Netherlands. On behalf of ING only a limited
number of Executive Board and Supervisory Board members will attend
the meeting in person; other members will follow or, to the extent
needed, participate in the meeting remotely. ING will also forego
the tradition of offering food and drinks before and after the
meeting in an informal setting.
Given government instructions and restrictions, a limited number
of places for shareholders’ in person participation will be
available at the AGM venue. In these extraordinary circumstances,
to limit health risks for all parties involved, we urge
shareholders not to attend the AGM in person. Shareholders that
nevertheless wish to attend the meeting in person, are requested to
follow the usual instructions as available on www.ing.com/agm. If
the number of shareholders wishing to attend in person exceeds the
capacity, ING will make a fair selection via a blind draw by the
civil law notary and will inform shareholders who have applied.
Shareholders who do attend the meeting in person will do so at
their own health risk and are responsible for maintaining the
mandatory social distance at all times.
In light of the above we encourage shareholders to cast their
votes online prior to the meeting, following the usual instructions
on www.ing.com/agm. The 2020 AGM will be webcast live via
www.ing.com so that all shareholders will be able to follow the
meeting. In addition, shareholders who have registered at the
registration date will be able to submit questions on the AGM
agenda items in writing, in advance of the meeting via the link at
www.ing.com/agm until 17:30 pm CET on 21 April 2020. ING intends to
answer these questions during the meeting.
The full details of all AGM proposals are included in the proxy
materials for ING’s 2020 AGM, which are available at
www.ing.com/agm. As announced on 30 March 2020, ING will follow the
recommendations made by the European Central Bank to European banks
on 27 March 2020 regarding dividend distributions. ING is well
capitalised, above regulatory requirements, but in line with the
ECB’s recommendations, it will suspend any payment of dividends on
its ordinary shares until at least 1 October 2020. Accordingly, at
the AGM the proposal to pay a final 2019 dividend (agenda item 3B)
will not be put to a vote and has been removed from the agenda. ING
will review any further dividend announcements after 1 October
2020. The proposed dividend distribution as reflected in the ING
Group 2019 Annual Report is amended by the new information included
in the press release of 30 March 2020.
ING will continue to closely monitor developments and might
further change aspects of the AGM based on relevant circumstances.
Updates and further details on the AGM will be shared at
www.ing.com/agm when appropriate. Information for holders of
American depositary shares is available at www.ing.com/ads.
Shareholders are advised to check the information regularly.
Note for editors
For further information on ING, please visit www.ing.com.
Frequent news updates can be found in the Newsroom or via the
@ING_news Twitter feed. Photos of ING operations, buildings and its
executives are available for download at Flickr. ING presentations
are available at SlideShare.
| Press enquiries |
|
Investor enquiries |
| Raymond Vermeulen |
|
ING Group Investor Relations |
| +31 20 576 6369 |
|
+31 20 576 6396 |
| Raymond.Vermeulen@ing.com |
|
Investor.Relations@ing.com |
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ING PROFILEING is a global financial institution
with a strong European base, offering banking services through its
operating company ING Bank. The purpose of ING Bank is empowering
people to stay a step ahead in life and in business. ING Bank’s
more than 53,000 employees offer retail and wholesale banking
services to customers in over 40 countries. ING Group shares are
listed on the exchanges of Amsterdam (INGA AS, INGA.AS), Brussels
and on the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING’s strategy, evidenced
by ING’s ranking as Leader in the banks industry group by
Sustainalytics and ‘A’ rating in MSCI’s ratings universe. ING Group
shares are included in major sustainability and Environmental,
Social and governance (ESG) index products of leading providers
STOXX, Morningstar and FTSE Russell.IMPORTANT LEGAL
INFORMATIONElements of this press release contain or may
contain information about ING Groep N.V. and/ or ING Bank N.V.
within the meaning of Article 7(1) to (4) of EU Regulation No 596/
2014.Certain of the statements contained herein are not historical
facts, including, without limitation, certain statements made of
future expectations and other forward-looking statements that are
based on management’s current views and assumptions and involve
known and unknown risks and uncertainties that could cause actual
results, performance or events to differ materially from those
expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such
statements due to a number of factors, including, without
limitation: (1) changes in general economic conditions, in
particular economic conditions in ING’s core markets, (2) changes
in performance of financial markets, including developing markets,
(3) potential consequences of the United Kingdom leaving the
European Union or a break-up of the euro, (4) changes in the fiscal
position and the future economic performance of the US including
potential consequences of a European sovereign debt crisis (5)
potential consequences of a European sovereign debt crisis (6)
changes in the availability of, and costs associated with, sources
of liquidity such as interbank funding, (7) changes in the
conditions in the credit and capital markets generally, including
changes in borrower and counterparty creditworthiness, (8) changes
affecting interest rate levels, (9) inflation and deflation in our
principal markets, (10) changes affecting currency exchange rates,
(11) changes in investor and customer behaviour, (12) changes in
general competitive factors, (13) changes in or discontinuation of
‘benchmark’ indices, (14) changes in laws and regulations and the
interpretation and application thereof, (15) changes in compliance
obligations including, but not limited to, those posed by the
implementation of DAC6, (16) geopolitical risks, political
instability and policies and actions of governmental and regulatory
authorities, (17) changes in standards and interpretations under
International Financial Reporting Standards (IFRS) and the
application thereof, (18) conclusions with regard to purchase
accounting assumptions and methodologies, and other changes in
accounting assumptions and methodologies including changes in
valuation of issued securities and credit market exposure, (19)
changes in ownership that could affect the future availability to
us of net operating loss, net capital and built-in loss carry
forwards, (20) changes in credit ratings, (21) the outcome of
current and future legal and regulatory proceedings, (22)
operational risks, such as system disruptions or failures, breaches
of security, cyber-attacks, human error, changes in operational
practices or inadequate controls including in respect of third
parties with which we do business, (23) risks and changes related
to cybercrime including the effects of cyber-attacks and changes in
legislation and regulations related to cybersecurity and data
privacy, (24) the inability to protect our intellectual property
and infringement claims by third parties, (25) the inability to
retain key personnel, (26) business, operational, regulatory,
reputation and other risks in connection with climate change, (27)
ING’s ability to achieve its strategy, including projected
operational synergies and cost-saving programmes and (28) the other
risks and uncertainties detailed in the most recent annual report
of ING Groep N.V. (including the Risk Factors contained therein)
and ING’s more recent disclosures, including press releases, which
are available on www.ING.com, (29) this document may contain
inactive textual addresses to internet websites operated by us and
third parties. Reference to such websites is made for information
purposes only, and information found at such websites is not
incorporated by reference into this document. ING does not make any
representation or warranty with respect to the accuracy or
completeness of, or take any responsibility for, any information
found at any websites operated by third parties. ING specifically
disclaims any liability with respect to any information found at
websites operated by third parties. ING cannot guarantee that
websites operated by third parties remain available following the
publication of this document, or that any information found at such
websites will not change following the filing of this document.
Many of those factors are beyond ING’s control. Any forward looking
statements made by or on behalf of ING speak only as of the date
they are made, and ING assumes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information or for any other reason. This document does not
constitute an offer to sell, or a solicitation of an offer to
purchase, any securities in the United States or any other
jurisdiction. |
- PDF version of press release
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